Tue 14-02-2017 13:14 PM
ABU DHABI, 14th February, 2017 (WAM) -- Al Hilal Bank has announced the dividend payout of its Al Hilal Global Balanced Fund. The fund, which was launched in 2014, distributed a 1.94% dividend to all registered unit holders as of 24th January, 2017.
The fund aims to generate appropriate periodic revenue, giving investors a chance to receive dividends and achieve long-term capital growth by investing in a globally diversified portfolio of high dividend-yield stocks and Sharia compliant fixed-income securities, or Sukuk.
The distribution equalled 1.94 percent of the fund’s net asset value, NAV, based on the initial NAV of US$10. The positive performance of the fund amidst a low interest rate environment and global uncertainty reflects the fund management expertise of Al Hilal Bank’s Investment Banking Group, the Fund Manager, and its Investment Advisor, Credit Suisse – Asset Management.
Al Hilal Bank currently offers 3 open-ended mutual funds inclusive of the Global Balanced Fund. The bank’s first fund, the GCC Equity Fund, was launched in 2011 and has performed strongly despite highly volatile market conditions, delivering a healthy double digit return of 22.81 percent since inception. The GCC Equity fund was awarded "Best Islamic Fund" by the Banker Middle East UAE Product Awards in 2013 and 2014. The Global Sukuk Fund, launched in 2012, aims to generate a regular stream income as well as achieve capital growth by investing in a global universe of Sharia-compliant fixed-income securities issued by sovereign, quasi-sovereign and corporate organisations. The fund also distributed a 3.83 percent dividend to all registered unit holders as of 24th January, 2017.
The bank plans to continue launching investment products as part of its ongoing effort in creating value and to increase diversification for its clients and investors.